The Board of Directors of
The reason for the decision to file for bankruptcy is that
"I regret to inform that we have been forced to take this decision to file for bankruptcy. As we have a strong belief in the company’s long-term potential, we have together with our advisors spent very substantial time and efforts into trying to secure the necessary liquidity, capital and ownership structure for the company to secure its future. As part of the negotiations, we have had intense dialogues with both current main owners, new investors and our banks, as well as other stakeholders. However, these discussions have not been successful. This is a sad day for the environment, our employees, our shareholders, and our other stakeholders, and it is a testament to the lack of leadership and necessary pace of change in the fashion industry” says Chairman of the Board of Directors,
For further information, please contact:
Chairman
investors@renewcell.com
+46 70 366 44 32
Acting CEO
magnus.hakansson@renewcell.com
+46 76 887 20 02
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